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Bombardier pouring millions into creation of aerospace hub in Toronto

Men pass a Bombardier Global 6000 business jet before the start of the 2017 Asian Business Aviation Conference and Exhibition (ABACE) at Shanghai's Hongqiao Airport on April 10, 2017. JOHANNES EISELE/AFP/Getty Images)

TORONTO – Bombardier says it will be pouring millions of dollars into various projects aimed at creating an aerospace hub in the Greater Toronto Area.

The aerospace giant says the funding strengthens its partnership with a local consortium whose primary goal is getting the hub established.

The Downsview Aerospace Innovation and Research Consortium will set up a centre where academic and industry leaders can collaborate.

READ MORE: Bombardier won’t get financial break despite early C Series closing

Bombardier says it will dedicate $1.5 million a year for the next five years toward funding research at that centre.

The company also plans to spend a total of $5 million towards creating aerospace research centres at Ryerson University and the University of Toronto.

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It will also fund a landing gear research project underway at Toronto’s Centennial College and pour millions into boosting operations and refurbishing a key building for the consortium.

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